HOME LOAN TAX BENEFITS:
Home loan comes with multiple benefits & let you achieve your goal of buying a new home and make you eligible for tax benefits. These tax benefits can contribute towards your EMI flow and savings.
The home loan borrower enjoys Tax Benefits on both Interest paid & the Principal re-paid. Under Section 24(d) of Income Tax, the deduction of interest payable on the home loan is up to a maximum of Rs. 1,50,000.
Under Section 80(c) of Income Tax, Principal amount for the repayment of loan along with other savings & investments is eligible for tax deduction up to a maximum limit of Rs. 1,00,000.
BENEFITS FOR MSME:
A. Ministry of Micro, Small and Medium Enterprises
15% credit-linked capital subsidy scheme for Micro & Small Enterprises to a maximum of Rs. 15 lacs.
B. Ministry of Food Processing Industry
Scheme for Technology Upgradation / Establishment / Modernization of Food Processing Industries:
25% of the cost of plant and machinery and technical civil works subject to a maximum of Rs. 50 lacs in general areas and 33.33% or upto Rs. 75 lacs in difficult regions
C. Ministry of Textile (TUF Subsidy)
- For standalone spinning units – 2% Interest Reimbursement for new standalone / replacement / modernization of spinning machinery.
- 5% Interest Reimbursement for units having spinning capacity with forward integration also having matching capacity of weaving / knitting processing / garmenting.
- 6% Interest Reimbursement and 15% Capital subsidy or 30% Margin money (MMS) on brand new shuttleless loom for powerloom sector.
- 2% of Interest Reimbursement or 8% Margin Money Subsidy on second hand imported Shuttleless looms with 10 years vintage and with residual life of minimum 10 years.
- For 30% MMS – capital ceiling caps of Rs. 5 crore and subsidy cap of Rs. 1.5 crore would be adhered to for encouraging adequate investments by the MSME sector.
- 5% Interest Reimbursement plus 10% Capital Subsidy for specified Processing machinery, Garmenting Units & Technical Textile.
- 5% Interest Reimbursement plus 30% Capital Subsidy on benchmark machinery.
- 5% Interest Reimbursement or 15% Margin Money Subsidy for MSMEs including Jute sector subject to ceiling of Rs. 75 lacs.
D. Ministry of Commerce & Industry
- Indian Leather Development Programme (ILDP) – 30% of cost of new plant and machinery for micro and small enterprises and 20% of cost of new plant and machinery for other units subject to a ceiling of Rs. 2.00 crore for each product line.
IDEAL INDUSTRIES FOR SETUP OF BUSINESS:
Project is approved by Major Financial Institutions for Residential units.
To avail loans for Industrial & Residential Units, please contact our authorized sales representative.
Disclaimer: The benefits listed above are indicative, may change based on the government policies & customers are advised to verify the details with the respective institutions / industry regarding type & nature of benefits suitable for their business to be set up in the Empire Industrial Hub. Home Loans for Residential Units will be as per the terms & conditions of respective financial institutions / banks.